ACCOUNTS - Final Accounts

PIPELINE COMMUNICATIONS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31truefalse2022-02-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11true 03028990 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 03028990 d:CurrentFinancialInstruments 2023-01-31 03028990 d:CurrentFinancialInstruments 2022-01-31 03028990 c:Director1 2022-02-01 2023-01-31 03028990 c:FRS102 2022-02-01 2023-01-31 03028990 c:FullAccounts 2022-02-01 2023-01-31 03028990 c:OrdinaryShareClass1 2022-02-01 2023-01-31 03028990 c:OrdinaryShareClass1 2023-01-31 03028990 c:OrdinaryShareClass1 2022-01-31 03028990 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 03028990 d:RetainedEarningsAccumulatedLosses 2023-01-31 03028990 d:RetainedEarningsAccumulatedLosses 2022-01-31 03028990 d:ShareCapital 2023-01-31 03028990 d:ShareCapital 2022-01-31 03028990 2022-02-01 2023-01-31 03028990 2 2022-02-01 2023-01-31 03028990 2023-01-31 03028990 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03028990 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 03028990 2021-02-01 2022-01-31 03028990 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03028990

PIPELINE COMMUNICATIONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023


PIPELINE COMMUNICATIONS LIMITED REGISTERED NUMBER:03028990

BALANCE SHEET

AS AT 31 JANUARY 2023

		2023		2022
		£		£


Current assets
Debtors: amounts falling due within one year	4	1,693		1,311
Cash at bank and in hand	5	57,250		46,799
		58,943		48,110
Creditors: amounts falling due within one year	6	(66,319)		(55,668)
Net current liabilities			(7,376)		(7,558)
Total assets less current liabilities			(7,376)		(7,558)

Net liabilities			(7,376)		(7,558)

Capital and reserves
Called up share capital	7	2	2
Profit and loss account		(7,378)	(7,560)
		(7,376)	(7,558)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

P D B Townshend

Director

Date: 31 August 2023

The notes on pages 2 to 5 form part of these financial statements.


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

1.	General information

Pipeline Communications Limited is a private company, limited by shares and is registered in England and Wales. The company's registration number is 03028990. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.

The principal activity of the company continued to be that of the exploitation of musical work.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Royalty income
The income from royalties are recognised when they are receivable and in accordance with the substance of the agreement.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short-term creditors are measured at the transaction price.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

2.8

Financial instruments (continued)

the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Employees

The average monthly number of employees, including a director, during the year was 1 (2022 - 1).

Debtors

					2023	2022
					£	£


Other debtors	1,693	1,311

5.	Cash
		2023	2022
		£	£

	Cash at bank and in hand	57,250	46,799

6.	Creditors: amounts falling due within one year
		2023	2022
		£	£

Amounts owed to other participating interests	7,875	4,828
Other creditors	58,444	50,840
	66,319	55,668


PIPELINE COMMUNICATIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

7.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

2 (2022 - 2) Ordinary shares of £1.00 each	2	2

There is a single class of shares. There are no restrictions on the distribution of dividends and the repayment of capital.